Ever since the financial crisis in the U.S. happened, potential borrowers have been desperately trying to find better access to credit and at lower interest rates, in the meantime, retail investors have been seeking ways to grow their money more efficiently and receive higher returns on their investments. Banking institutions, who’ve been saddled with regulatory burdens, haven’t been able to fully meet the needs of either. Because of this gap in the market, much room was left open for the rapid growth of a new financial sector — peer-to-peer lending. Peer-to-peer lending platforms like Lending Club and Prosper Marketplace run online lending services that can quickly and automatically match borrowers seeking a loan to an investor willing to provide the funds for that loan at an attractive interest rate. P2P Lending Market Numbers Infographic Infographic credit to: www.LendingRobot.com P2P Lending Growth Facts For 2015 The Peer-to-Peer lending industry is seeing significant growth, especially in developed countries with strong financial markets. P2P lenders in the US generated $6.6 billion in loans last year, up 128%. The US has one of the largest P2P lending markets in the world by loan volume, but the UK’s loan volume 72% larger on a per capita basis. Caused by low …

San Francisco-based startup BTCJam is taking peer-to-peer lending to a global audience, and is using bitcoin to achieve its vision. Bypassing the restrictions of fiat currencies, the company says, allows any individual in the world to receive a loan via its platform. While traditional wire transfers are costly and not always easy to set up, bitcoin allows approved BTCJam borrowers to receive funds almost instantly, wherever they may live and whether or not they have a bank account. Celso Pitta, the company’s CEO, told CoinDesk: “We are a global lending platform. We use bitcoin as a payment method to enable international, cross-border lending.” BTCJam CEO Celso Pitta talking about his startup at CoinSummit. Source: CoinSummit From banker to bitcoin entrepreneur Pitta, who hails from Brazil, had prior experience in the finance industry before starting BTCJam: “I worked for Citibank. Knowing banking from the inside, I knew that I could do better: a peer-to-peer lending website.” However, Pitta reached his first stumbling block when he discovered the penalty for starting an unlicensed money-lending service in Brazil. “I noticed that if you do [lending] in Brazil, you will go to jail for 10 years,” he said. As absurd as that might sound to some, this potential roadblock is …